ESMA and MAS sign MoU to allow use of Singapore benchmarks in EU

The process allowing Singaporean interest rate benchmarks to be used in the EU has been completed following the signing of a memorandum of understanding (MoU) between the authorities of the two jurisdictions.

SFC takes action to ensure continued integrity of Hong Kong’s markets

Following extreme bouts of market volatility, the Hong Kong Securities and Futures Commission (SFC) said it is pursuing a flexible approach so that markets continue to function properly, while safeguarding market integrity and investor protection.

EBA agrees with changes to risk weight standards for specialised lending

Amendments to standards on risk weights for specialised lending exposures made by the European Commission have found approval with the European Banking Authority (EBA), which will endorse them.

European repo market grows amid numerous challenges

As of December 2019, the European repo market stood at a record €8,310.3bn, compared with June 2019 when it was €7,761.4bn, an increase of 7.1% and a year on year rise of 5.9%, according to the International Capital Market Association (ICMA). 

SEC whistleblower awards top $400m

Since its inception in 2012 as part of Dodd-Frank, the US Securities and Exchange Commission’s (SEC) whistleblower reward programme has paid out more than $400m as of April 16, 2020.   

Khaled Ghadban

Mass home working in financial sector is a clear market abuse threat

Banks have around 70-90% of their staff working at home because of the Covid-19 pandemic, which is a nightmare for compliance staff as a lot of activity is now far less supervised 

ESMA issues no action letter on BMR sustainability disclosure requirements

The European Securities and Markets Authority (ESMA) has issued a ‘no action letter’ telling national competent authorities (NCA) that they can delay enacting sustainability disclosure requirements aimed at benchmark administrators.

FINMA consults on minor tweaks to liquidity regime

Interested parties are being asked to comment on minor amendments to Switzerland’s liquidity regime for banks by the Swiss Financial Market Supervisory Authority (FINMA).

FSB consults on regulating global stablecoins

The Financial Stability Board (FSB) has put forward a set of high-level recommendations for the oversight and regulation of global stablecoins. 

FSB consults on managing cyber incidents

The Financial Stability Board (FSB) is consulting on effective practices to deal with cyber incidents as they are a threat to global financial stability.